Home Press Releases Prodways Group: 2019 revenue growth of + 17.1%, exceeding 2019 objective

Prodways Group: 2019 revenue growth of + 17.1%, exceeding 2019 objective

Consolidated revenue as at 31 December 2019 stood at €71.3 million, a strong growth of 17.1% compared to 2018 (+6.3% on a comparable basis) and above the annual objective. The Group posted a fourth quarter up by 3.1% based on reported data (stable like-for-like) compared to high base in 2018.

The Systems division – comprising 3D software, 3D printers and related materials and services – posted revenue of €44.9 million over the financial year, up 16.8% on a reported basis and 7.6% on a comparable basis. In fourth-quarter 2019, the division’s revenue amounted to €13.6 million, up 0.5%.

This quarterly performance reflects contrasted trends within the division: traditional business activities have taken up positions in the clear aligners market and recorded some commercial successes with leading chemical groups or in Rapid Additive Forging, whereas Solidscape’s jewellery business is recovering at a slow pace. The Materials business has continued to post double-digit growth and the Software business has maintained solid performance levels after a record fourth-quarter 2018.

The Products division – comprising the design and manufacture of on-demand parts and medical applications – posted revenue of €27 million for the 2019 financial year, up 17.9% (+3.1% like-for-like excluding Surdifuse-l’Embout Français, acquired in January 2019).

In fourth-quarter 2019, the division’s revenue amounted to €6.7 million, up 13.7% on a reported basis and 0.1% on a comparable basis. The division has benefited from the contribution of Surdifuse-L’Embout Français acquired in first-quarter 2019, the double-digit growth of traditional hearing protection and podiatry activities, as well as a good performance in the parts production business. Dental activity continues to recover despite the decline in the last quarter.

Objective 2020

In 2019, the Group continued to consolidate its activities as an integrated player positioned across the digital manufacturing value chain. The Group is well positioned to be a leading player in the digital transformation of the industry.

In a context of wait-and-see of some industrial sectors and mass production materializing at a slow pace, the Group is ready to seize market opportunities.

Prodways Group has been working for several years on 3D printing industrialization projects in various business sectors. These projects involve a large number of machines dedicated to production applications that consume several tonnes of material. Although no industrial orders were booked in 2019, the Group is hoping for a first order of this type in the coming months.

For 2020, Prodways Group sets its revenue growth target by around 5%.